Spirit AeroSystems announces 8.56M share secondary offering for holders The shares are being offered by affiliates of Onex Corporation and current and former members of management of the company. Following completion of the offering, Onex will no longer own any shares of the company.
Aerospace sector downgraded to Neutral from Attractive at Goldman Goldman downgraded the Aerospace sector to Neutral based on group outperformance and increased downside risks. The firm believes Boeing (BA) and Airbus are now oversupplying the market after a decade of undersupply and replacement demand required to sustain production may prove difficult to achieve. Goldman said accelerated new aircraft replacements was partially due to fuel economics and lower fuel prices and global growth volatility could substantially change Aerospace dynamics. As part of the sector view change, Goldman downgraded Boeing to Sell from Neutral and Precision Castparts (PCP) to Natural from Buy.